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  • I Need Help

    My Brother, a plumber passed away and someone stole all his property. I have a list of missing items and have NO IDEA what they are worth. I need this information for the lawyer who is handling the case for his estate. Please help, thanks

  • #2
    Re: I Need Help

    I am sorry for your loss and I am sure the members here will help where they can.

    Mark
    "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

    I never lost a cent on the jobs I didn't get!

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    • #3
      Re: I Need Help

      Originally posted by sister View Post
      My Brother, a plumber passed away and someone stole all his property. I have a list of missing items and have NO IDEA what they are worth. I need this information for the lawyer who is handling the case for his estate. Please help, thanks

      sorry for your loss, ummm, I don't see a list, did you attach one?
      sigpic

      Robert

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      • #4
        Re: I Need Help

        In your case so you can file claims and also report your loss to the legal authorities you really need for your lawyer to get with a certified "Tools & Machinery" appazer and have him do a formal report of the value in the as was condition and also what it would cost to replace them with new. Be sure to have a good tax accountant help with your taxes as some of this can be deducted.

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        • #5
          Re: I Need Help

          Originally posted by Woussko View Post
          In your case so you can file claims and also report your loss to the legal authorities you really need for your lawyer to get with a certified "Tools & Machinery" appazer and have him do a formal report of the value in the as was condition and also what it would cost to replace them with new. Be sure to have a good tax accountant help with your taxes as some of this can be deducted.

          I agree with Woussko, you should really have a professional appraizer help you
          sigpic

          Robert

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          • #6
            Re: I Need Help

            If the tools are more than 6 years old then it is considered to be past it's useful life . That"s depreciation . Not to say you couldn't have sold them for quite a bit of their original value , but everything tool we use including our vehicles , as far as insurance companys go has no insurable value , unless it were say an antique tool which would fall into a seperate category . Also , insurance companys require all serial numbers for tools being claimed.I take pictuers of everything , and all original receipts go in a safe deposit box.

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            • #7
              Re: I Need Help

              I am surprised that the attorney for the estate does not know how to handle this. Did a police report get filed? Does anyone have any idea who may have stole the items. Are all of the items that were stolen tangible personal property? Recognize that pursuing the items by legal action may cost more than the items are worth. I am so sorry for your loss. How terrible that something like this has to happen in conjunction with such a tragedy. I am a Probate Attorney in SoCal. My husband is on this listserve and asked me to respond.
              THE GLASS IS ALWAYS HALF FULL

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              • #8
                Re: I Need Help

                There still worth a salvage value, regardless of deprecation, depreciation is for taxes, not insurance.
                E bay proves that and auctions prove that and your banker will say so too.

                My insurance company insures things over 6 years old or I would have nothing to insure, LOL.

                Do a eBay search on items and then after finding them look under completed items, (in the menu on the left) it will give you a realistic value of used items and basic conditions to what some one is willing to pay for them. (what they sold for on EBay) IMO, you should figure the shipping into the cost as well, as that is the total price some one was willing to pay, (example: machine sold for $250 and shipping was $100 the total cost some one was willing to pay was $350).

                (on seldom sold items you may not find completed items as there not stored very long in that search).

                should probably at lest list the auction number as a reference if not print it out for the insurance company as a form of proof of value, ( I re did my insurance last year and that was some of what I need to do to place a value on items was to find a equivalent replacement and it basic value, unless it was a new item. and could use the receipt)
                Last edited by BHD; 06-13-2007, 11:07 AM.
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